Interactive Brokers Group (NASDAQ:IBKR) Now Covered by BMO Capital Markets

Stock analysts at BMO Capital Markets started coverage on shares of Interactive Brokers Group (NASDAQ:IBKR) in a report released on Friday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $82.00 price target on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 16.54% from the company’s current price.

Several other equities analysts have also recently commented on IBKR. Wall Street Zen raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Piper Sandler lifted their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Barclays lifted their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Finally, Citigroup lifted their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.47.

Interactive Brokers Group Stock Down 0.8%

Interactive Brokers Group stock opened at $70.36 on Friday. Interactive Brokers Group has a 52 week low of $32.82 and a 52 week high of $71.78. The company’s 50 day moving average price is $64.33 and its two-hundred day moving average price is $54.63. The stock has a market cap of $119.34 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.89 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that Interactive Brokers Group will post 7.46 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Paul Jonathan Brody sold 116,861 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. The trade was a 42.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider owned 461,500 shares of the company’s stock, valued at $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,205,683 shares of company stock valued at $77,217,965 over the last 90 days. Company insiders own 2.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in shares of Interactive Brokers Group by 50.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider’s stock valued at $98,886,000 after purchasing an additional 199,467 shares in the last quarter. Thrive Wealth Management LLC grew its position in Interactive Brokers Group by 243.8% in the second quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 6,163 shares in the last quarter. Farther Finance Advisors LLC grew its position in Interactive Brokers Group by 1,093.9% in the second quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 6,760 shares in the last quarter. Inspire Investing LLC grew its position in Interactive Brokers Group by 19.5% in the first quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider’s stock worth $7,839,000 after acquiring an additional 7,734 shares in the last quarter. Finally, Swedbank AB grew its position in Interactive Brokers Group by 300.0% in the second quarter. Swedbank AB now owns 34,080 shares of the financial services provider’s stock worth $1,888,000 after acquiring an additional 25,560 shares in the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.